Portfolio Management tips and tricks

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Self-attribution - What athletes can teach investors about success and failure

When it comes to pinpointing the reasons for investment success and failure, being objective is a surprisingly difficult thing to do. Recognising precisely what went right and wrong can help in making better decisions in the future. The trouble is that humans tend to credit their ups and downs to reasons that aren’t always the case. In short, we like to take the credit for success and blame something else for failure. This is a well known flaw called self-attribution bias, and being aware of it could cut the risk of costly overconfidence and lead to a better investment process.…






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